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in this morning. in just a few minutes, we've got john harwood. he'll join us to go through the politics on this and some of the realities on how it can possibly work. in the meantime, let's send it over to andrew. >> we have a lot of corporate news this morning. kimberly clark announcing its board of directors authorizing its management team to pursue a potential tax free spin-off of the health care business which has $1.6 billion in sales. take a look at shares of the consumer products giant closing at an all-time high yesterday. we're going to talk to the company's ceo tom falk at 7:30 a.m. eastern time this morning. the play station 4 officially now on sale, a little over six hours ago that gamers were able to get their hands on sony's new game console. the price tag, $399. we're going to have a product review of what it is and what it means. it's 6:30 a.m. eastern time. and we're getting a peek into the portfolios of some of the world's biggest investors. warren buffett, snapping up stake in exxon. at yesterday's closing price of $93.22, that stake is valued at $3.74 billion. and a
this weekend. that's 11 1% more than last year. we have the chief merchandising officer at toys r us. then we'll be joined from tyson's corner, a huge mall in virginia. bobby kotick will be join onning us on air. electronic items are expected to be a big seller this year especially with the launch of the xbox and the new play station consoles. coming up in the next hour, we have terry lundgren. and at 8:40 this morning, the ceo of brooks brothers. we have a packed line upof guests ready to giving us a look at the american consumer. we start with dana telsey this morning. we have heard a lot of stories about some expecting disappointment, some maybe not great retail numbers. but what do you really think is going to happen this holiday season? >> i think it's the season of insurgency. we have six fewers days between thanksgiving and christmas. look at the season started earlier than it ever did before. there are items out there for people to want, whether it's accessories and hand bags and watches. certainly electronics with all the new tablets out there. so overall, it should be a 3% to 3.5% t
>> good morning. i'm becky quick along with joe kernen. andrew ross sorkin will be joining us in the next hour. coming up around 8:00 eastern time today, andrew will kick off the headliner with barely diller. catch it right here on "squawk box." our guest host this morning on 11-12-13, dennis gartman pointed out that it's 2:15 today in military time it will be 11-12-1314:15.16. first, let's get you up to speed on the morning's headlines. an experimental glaxosmithkline hard drug has missed its main goal in a major clinical late stage study. it was designed to prevent heart attacks and strokes in a completely different way from cholesterol lowering drugs by targeting an enzyme. >>> the latest legal battle between amppple and samsung begs today. a federal jury awarded apple about $1 billion earlier this year, but the judge tossed out $400 million in damages and ordered a new jury to recalculate damages for 13 samsung products that have been found to be infringing apple's patent. >>> in other technology news, "the wall street journal" reports that google's motorola unit is expect
international correspondent will join us with more on this story in just about 30 minutes. then we'll be talking oil with an energy policy analyst as well. brian, i'll send it over to you. >> becky, thank you very much. it is a big morning here. while we get a check on the broader markets because we have a global melt up. futures indicating a higher open for futures stocks. andrew told you at the top we're on a lucky seven week streak. everything in europe is higher. all the major indexes are on the rise led by germany which is up just under 1%. japan continues to rock. they're leading the way in asia this morning. the nikkei 2.25. they are now up 50% year to date. china not participating. the hang seng and the shanghai down. 10 year treasury note still hovering around 2.75%. the yield is up. the bond is down. the dollar is little changed against the euro. about $1.35 per euro. and gold down 1%. guys, the story is certainly the stock market weakening. japan continues to kick tail. good year. >> becky quick tweeting at 4:00 a.m. this morning? >> i'm not sure. >> it was early. well, a line from a
at the october 9th lows through yesterday's close, the u.s. markets are up almost 6% or greater. and with just two months left in 2013, check out the year-to-date returns. the dow is up almost 19%. the transports up by 31%. the s&p up more 23% and the nasdaq about 30%. pretty phenomenal year-to-date. if you take a look at the futures this morning, you're going to see some green arrows once again. dow futures up by 30 points. s&p up by just under 2 points. in global market headlines, china's manufacturing sector strengthened further. mixed signals in important areas, including export orders suggest that any recovery will be gradual. take a look at what happened overnight in asia. you'll see that shanghai and hang seng were barely higher. the nikkei was down by 0.8%. the big news out of europe this morning, royal bank of scotland, rbs announcing it will move $61 billion of toxic assets into an internal bad bank. the early european trading this morning, you've got some red arrows. but that's only down by about 16 points. we'll see what happens as we get further into the trading day. we'll have mo
of securities fraud. kate kelly will join us with the late nest a minute. >>> in the meantime, bids for blackberry are due today. there there's a tentative bid. other parties said to be vying for blackberry include serberus, qualcomm and the co founders. >>> tri-point homes is trying to buy the company for $2.7 billion. tripoint is backed for gary sternlicht. andrew, good morning. >> there's some synergy there, as they say in the merger business. also, we have some corporate buzz. "the new york times" reporting that u.s. authorities have expanded the probe into jpmorgan's hiring practices outside of china across the asian pacific. they're focusing on south korea, singapore and india. the d.o.j. was exploring other areas. we talked a little bit about this. jpmorgan is the one that actually went to the d.o.j. and started talking about these other hiring practices and now they've expanded their probe. there they are. good news, in the i.p.o. space, october was the busiest month for u.s. offerings since 2007. 33 companies raised more than 12 billion companies. >>> finally, a new cnbc as
at least $1.8 billion. julia boorstin sat down with twitter's ceo. she'll join us with is that conversation in just a minute. but first, the rest of this morning's agenda, there are a number of key economic stories to watch. the european central bank is meeting in frankfurt. policymakers are expected to hold rates steady despite intense pressure to cut interest rates because of what you've been watching with the euro. a decision is expected around 7:45 eastern time. but the key developments for the market could come at 8:30 eastern. that's when the ecb president mario draghi is holding a news conference. we'll get previews from geoff ket mo c cutmore in europe in about 20 minutes. >>> jobless claims are seen at falling slightly to 335,000. as for the markets, joe mentioned the dow closing at a historic high. the s&p 500 rose for the 16th time in the last 21 sessions, finishing within two points of a record. the nasdaq was not along ford ride yesterday. it closed a little lower to snap a three-day winning streak. you did see some of the high flyers that took it on the chin yesterday. you wat
. welcome to "squawk box." it is veterans day, a day when we remember our troops that are serving us right now and our veterans that have served us in the past. we thank all of them. i'm becky quick along with joe concern nin and andrew ross s e sork sorkin. u.s. aid has arrived in the philippines to help with relief efforts. a major mission is expected in the coming days. >> it's a whole government approach. the embassy's asked for not just military, u.s.a. i.d. is here, international relief agencies are here. obviously the military has logistics capabilities that are unique. united states specific command has authorized marine specific to bring in transportation. we have c 130s coming in. >> authorities say that at least 2 million people are affected in 41 provinces. we will have more from a live report from the ground. in the meantime, let's send it over to andrew. he has this morning's top stories. >> good morning, becky. thauchk. we have some corporate headlines this morning. avardis is selling its blood testing units for $1.75 billion. it's a very busy market for health care deals.
way to work this morning, it is going to be a bit of a mess. reynolds wolf will join us from the weather channel in just a moment. you look good. >>> the dow and the s&p hitting highs before losing in the final minutes of trading. and how about the nasdaq? the tech heavy index closed above 4,000 for the first time yesterday in 17 years. managed to hold on, close at 4,017. take all this together, you consider the thanksgiving holiday that's coming up and take a look at the futures this morning. you'll see the futures are indicated higher. those dow futures up by 35 po s points. nasdaq up by 3 points above fair value. at 8:30 eastern time this morning, we get weekly jobless claims and october durable goods. coming up at 9:45, we've got chicago pmi. also on the agenda, we have consumer sentiment and the leading economic indicators. >> now for it all -- oh, i thought i was going to see it because i historically have done corporate news. >> they changed it in the final minute. >> they changed it recognizing -- >> because of the script. >> i know. >> the choppers were grounded? >>
. but first, joe and andrew are back at cnbc headquarters. republican old wolf will join us from the weather channel with the latest in just a moment, but andrew, back over to. >> thank you, becky. on the market, the october jobs report. the release due at 8:30 a.m. eastern time. the reports polled saying the economy likely added 120,000 jobs last month. that's the estimate and the baseline to play against. the employment rate is seen ticking higher to 7.4% and the numbers expected to show the government shutdown delayed hiring and forced some workers, of course, to stay home. >>> also in the news this morning, blackberry will be paying its new interim ceo a base salary of a million bucks, a bonesup up to twice that amount and stock awards potentially worth some $58 million. john chen is credited with turning around sybase in the late 1990s. his shares only begin to vest after three years with the company. and the majority of those will vest an he completes his fifth year with the company. if he's fired without cause, he will be paid up to $6 million. and given that becky still has her black
'm gullable. i'm like the girl or the guy who uses whiteout when he can on a computer -- i was watching -- notice how i said girl or guy quickly. i was looking at today on a twitter thing there was a little bug. have you seen that? >> i haven't seen it. i'm going to look right now. >> have you seen bugs moving around? if you go to a certain person and then i -- there's a bug. it's a spec moving around. it looked like there's a little flea. where? >> it has to be on the person. the person does it that way. the person on their picture somehow gets a bug moving around and then you see it -- i saw it and then i went -- >> you were trying to swish it? >> no. you but i went to see if -- i tried to pull this thing off to see if it's underneath. but then i realized it's a person that's always moving around there. did you know you could do that? >> no, i did not. >> i'm going to do that. @joekernenshair is a bug. >> on the next commercial. >> your jacket is on. >> i know. >> you're looking really sharp. no belt, know. >> this is a suit. it doesn't take a belt. >> i know that. but you buy the sui
in 2018. about $200 million of the proceeds will be used for the stock buyback. shares rising on the news in after hours trading. ceo marissa mayer speaking at its salesforce.com meeting last evening. >> we don't think we're treating ours as mobile first. when you look at what's happening with the mobile trend overall in our industry, it's clear that it is a -- and you can ride it through the invention. yahoo! like many companies, has to constantly reinvent itself. the scary part about reinvention is it happens with platform shift. >> there's a little bit of financial industry news for you this morning. jpmorgan holding a conference call with analysts after yesterday's announcement with that mortgage settlement with the government. jamie dimon explaining that most of the toxic numbers were inherited. >> bear stearns, did not had not happened that way, it was a house on fire. it was imploding. we did it because we had to. we never expected this to happen. >> pete williams caught up with attorney general eric holder, talked about the government settlement. >> one of the things that we worke
at that level. u.s. equity futures at this hour at least. if you want to take a look, you'll see that right now you see some modest advances. right. the dow futures are up by about 1 1.5 points above fair value. s&p futures up by 1.5 points. joe mentioned there are a few tests for the markets today, so why don't we take a look at the calendar on the economic side. we'll get the s&p case-shiller index-home prices for september at 9:00 eastern time. later, the consumer confidence number is released for september. we were originally speccing housing starts at 8:30 eastern today. permits will hit the tape, but the government is delaying the starts and completions again. they are still blaming the shutdown for this. the commerce department now plans to share that information on december 18th. >>> we go from the economy to earnings. this morning's horts include hormel, tiffany's, and barns & noble. >>> also, other market related news, takeover premiums are shrink to go historic lows. "the wall street journal" reports more than 9300 deals and so far this year the average premium has only by 19% of a t
is on the scene and will bring us the latest in just a few memberships. >>> but first, let's get to some of the morning's top business headlines. china's central banks says it will maintain policy settings to ward off inflationary risks and keep the economy on an even keel. preventing systemic risks in the economy. it's a fine line to walk, but that is what the central bank is saying there today. speaking of china, growth in the country's services industry edged up in october. a private survey suggesting there are further indications that the economy has stabilized. and australia's central bank announcing it's keeping its cash ready steady at a record low of 2%. the european commission out with its latest forecast this morning saying that europe's economic recovery will continue into the second half of the year, though, as subdued pace. in the meantime, unemployment will remain high through next year. we'll have more from ross westgate about how that is affecting european markets, but rye in and out, andrew, back over to you. >> thank you, becky. jpmorgan has talked with the justice depa
kernen and andrew ross sorkin. kate kelly will join us from outside jpmorgan's headquarters with more on the story in just a moment. but first, we're going to start things out with the markets this morning. stocks retreating from record highs yesterday on bearish talkes from carl icahn. the activist investor said he had cautious on equities. he was speaking at a conference where he said he could see a big drop in stocks because earnings at many companies are driven more by low borrowing costs rather than strong management. the dow and the s&p 500 are both on track for their best year in a decade. the major indexes have soared by more than 140% since bottoming out over a year ago. in his third quarter letter to investors, jeremy grantham suggests we could see stocks explode higher than sink into a bear market. he wroes, my guest is that the u.s. market, especially the nonblue chips will work its way higher perhaps by 20% to 30% in the next year or more likely over two years with the rest of the world including emerging market equities covering even more ground in at least a partial cat
today, we have mario gabella. he's going to help us pick some stocks that have room to run. that's starting at 7:00 eastern time. also, coming up at 8:40 eastern time, we have pimco's mohamed el-erian. it was pretty funny watching some of the readings and some of the takes on this afterwards. people say their heads were spinning as they went through the details of the fomc minutes. as for today's market agenda, there are a number of key economic releases to be watching. at 8:30 this morning, we get weekly jobless claims plus the producer price index. later this morning, there's manufacturing pmi, the philly fed survey and leading economic indicators. in earnings central today, retail is once again the key them this morning. companies reportsing before the bell include target, dollar tree, abercrombie & fitch and game stop. we'll be watching closely after what we heard about walmart. andrew, over to you. >> thank you, becky. we have corporate news this morning. the government rejecting fair homes recapitalization proposal of fannie mae and freddie mac. here's what happened. obama
for a gain in sales this time around. jon fortt is going to join us with more of his conversation with ceo game chambers in a moment. janet yellen will appear before the senate banking committee this morning. she can expected to defend the central bank's aggressive monetary easing. she'll say, i believe supporting the recovery today is the shortest path to returning to a more normal approach to monetary policy. the nomination is set to begin at 10:00 a.m. eastern time. in the meantime, outgoing chairman ben bernanke says the central bank will remain alert to preventing inflation from declining too far from its goal of 2%, falling too far below that. we're going to talk about the future of the central bank with greg ipp and ir neil irwin in the next hour. he says he expects to taper in the next couple of months. beyond yellen and the fed, a few other economic event toes watch today. we have weekly jobless claims at 8:30 eastern time. at the same time, the september trade deficit hits and third quarter productivity and labor costs. futures at this hour -- well, you have to remember yesterday
that little electric dance for us? i don't know -- >> i'm not sure why we were playing eye it's electric" but you can't help but get that awful dance out of your head. anybody that has been to a wedding in the last 15 years has seen that. >> weddings, anyway, we have some corporate news to get you caught up on this morning. you're not going to believe this one. the group includes holders of more than half of the $34.6 billion of preferred sars in the company. the plan reportedly being pitched as a way to bring tens of billions of dollars of private capital back into the capital. treasury has controlled fannie and freddie, of course, for the last five years. >>> johnson & johnson agreed to what could be a $4 billion settlement over hip implants. the deal could include thousands injured. a tentative plan must win court approval. >>> starbucks will be paying kraft food nearly $278 billion after it ended the grocery deal early. it includes damages and legal fees. mondalieze will receive all proceeds from the starbucks/kraft dispute. >> it seems like a lot of money. >> and don't forget, starb
through. this is about ramming it down -- >> do you think they listen to us? >> no, this is about not working together with the other side. this is a problem. this is bad for the institution. and by the way, a lot of the people who voted for it voted against it back in 2005, eight years ago when it was the republicans who were trying to do the same thing. everybody's changed sides. >> but obama now, after voting to raise the debt ceiling, he was also adamantly opposed to doing this as well. so, we know how politicians operate, but i was going to ask you -- >> just all these guys, tom harkin, a democrat in favor of it, says he's been waiting for 18 years, eight years ago said this was absolutely the wrong thing to do with the institution s . mcconnell who was in favor of it eight years ago is opposed to it. basically, they just traded sides. >> am i okay with what? >> here's what happens now, he's not going to get anything through legislatively -- >> yes. >> so, he's governing through regulatory measures now. >> correct. >> now, any of the regulatory measures that are challenged at
and allowing market pricing of key policies. unit yoon will join us from beijing. >>> in the earl will i trading in europe, you can see some green arrows. modest advances. everything below half percent increase. germany looks like it's the best performers up by close to half a percent. >> hope you had a great weekend. among our top stories, we're talking this morning a lot about former treasury secretary tim geithner. he's joining warburn pincus. he's been a distinguished fellow. he's conducted a series of seminars across the country. he's in the process of writing a book. we'll talk more about the story with politico's ben white in just a few minutes. jpmorgan agreeing to pay $4.5 million to settle claims for people who lost money on mortgage-backed securities. the bank reached that with 21 institutional investors and security trusts issued by jpmorgan and bear stearns which they acquired. washington mutual which jpmorgan acquired and we should note that this deal is separate from the preliminary $13 billion settlement the bank had reached with the government. you're talking about $4.5
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